0:00:02 > 0:00:04Hello. Buying your first home is a life-defining moment.
0:00:04 > 0:00:06One that you will just treasure for ever.
0:00:06 > 0:00:09But whether it's your first property or your 50th,
0:00:09 > 0:00:13- it's always really exciting buying at auction.- Oh, yes.
0:00:13 > 0:00:15There are plenty of heart-stopping moments
0:00:15 > 0:00:18when you buy your home under the hammer!
0:00:43 > 0:00:47Well, everyone knows that appearances can be deceptive
0:00:47 > 0:00:51and some auction properties prove to be a bit of a challenge!
0:00:51 > 0:00:54Yes, the house may look as if it needs a quick makeover.
0:00:54 > 0:00:57But actually, what is needed is drastic surgery!
0:00:57 > 0:01:02So do today's properties just need a bit of filler, or a full renovation?
0:01:02 > 0:01:04Let's find out!
0:01:05 > 0:01:09In Kent, this building plot hasn't dampened my enthusiasm.
0:01:09 > 0:01:14I can imagine a nice big, detached, family house sitting here.
0:01:16 > 0:01:20This mansion in Darlington makes me feel more "down" than "Downton"!
0:01:20 > 0:01:22But it isn't that sort of big,
0:01:22 > 0:01:25impressive entrance that you'd hope for.
0:01:25 > 0:01:30And this Derby semi was ticking boxes for me. Nice house, I thought.
0:01:30 > 0:01:35Well, it was all going so well. And then, I came into the bathroom.
0:01:36 > 0:01:39All these lots went to auction. We'll find out who bought them...
0:01:39 > 0:01:41Selling for the first time.
0:01:41 > 0:01:43..and what they paid when they went under the hammer.
0:01:43 > 0:01:45Sold.
0:01:48 > 0:01:51This is the village of Four Elms in Kent.
0:01:51 > 0:01:5315 minutes from the town of Sevenoaks,
0:01:53 > 0:01:56deep in the lovely Kentish countryside.
0:01:56 > 0:01:58And in my opinion, you'd be "quackers" not to take a look
0:01:58 > 0:02:00at what's on offer in this neck of the woods.
0:02:00 > 0:02:02Even in the rain!
0:02:03 > 0:02:06# All the ducks are swimming in the water
0:02:06 > 0:02:08# Fol de rol de rol
0:02:08 > 0:02:10# Fol de rol de rol! #
0:02:10 > 0:02:13This part of the world is very, very desirable indeed.
0:02:13 > 0:02:17Families are falling over themselves to buy a home here.
0:02:17 > 0:02:20But what if a characterful old farmhouse isn't your thing?
0:02:20 > 0:02:24Well, how about a plot to build something new?
0:02:24 > 0:02:26Because that is exactly what was on offer.
0:02:26 > 0:02:29It's a quarter of an acre site,
0:02:29 > 0:02:33right in the heart of the village, with planning for a four-bed house.
0:02:33 > 0:02:39And it had a guide price of 280 to 300,000. How exciting!
0:02:39 > 0:02:42It's unusual to get a building plot right in the heart
0:02:42 > 0:02:44of a community like this.
0:02:44 > 0:02:46In fact, there was a bungalow on this site
0:02:46 > 0:02:48until it was demolished a couple of years ago.
0:02:48 > 0:02:51And I tell you what, I'm glad I brought my wellies!
0:02:51 > 0:02:54Because this is going to be one muddy viewing!
0:02:54 > 0:02:57Now, I know this is a quarter of an acre site,
0:02:57 > 0:03:03but you know, it feels so much bigger! Wow! Loads of space here.
0:03:03 > 0:03:07You can see this is where the old house was. Loads of rubble.
0:03:07 > 0:03:11But it's quite interesting, I can imagine a nice big,
0:03:11 > 0:03:15detached family house sitting here very happily indeed.
0:03:15 > 0:03:21And the bit I love, the plans! There is an executive four-bedroom house.
0:03:21 > 0:03:24Now, these have been passed already. There's two floors.
0:03:24 > 0:03:28You've got the downstairs ground floor with the kitchen, dining room,
0:03:28 > 0:03:35a family space, a nice big hallway, a drawing room and bedroom four.
0:03:35 > 0:03:37Not sure about that.
0:03:37 > 0:03:38Apart from bedroom four,
0:03:38 > 0:03:41everything else looks really good on the ground floor.
0:03:41 > 0:03:43And then going upstairs,
0:03:43 > 0:03:47you've got a master bedroom with a lovely ensuite shower room.
0:03:47 > 0:03:51You've got another two bedrooms and a study and linen area.
0:03:51 > 0:03:54Now, straightaway, I would like to knock the study
0:03:54 > 0:03:58and the linen cupboard into one big room and call that bedroom four.
0:03:58 > 0:04:01I really think you needs to have your sleeping upstairs
0:04:01 > 0:04:03and your living accommodation downstairs.
0:04:03 > 0:04:06You wouldn't want to have to submit the plans again,
0:04:06 > 0:04:07because this is already a done deal.
0:04:07 > 0:04:10It's passed, you're going to buy these with the auction lot.
0:04:10 > 0:04:12so I think if you could tweak it,
0:04:12 > 0:04:15and just have four bedrooms upstairs, this would be a great house.
0:04:15 > 0:04:19Some potential buyers will not be keen on a downstairs bedroom
0:04:19 > 0:04:23and just regard it as a study or occasional bedroom at best.
0:04:23 > 0:04:26And you don't really want your substantial family home
0:04:26 > 0:04:29downgraded to a three-bed if you can help it.
0:04:29 > 0:04:33The downstairs bedroom is next to a shower room, which might be OK
0:04:33 > 0:04:36for families with teenagers or someone with mobility issues.
0:04:36 > 0:04:39But I think that on the whole, it does limit the market.
0:04:39 > 0:04:44So might well be worth exploring, as is the site itself.
0:04:44 > 0:04:49It's always worth doing a bit of digging around any auction purchase.
0:04:49 > 0:04:52And here, it is quite literally true.
0:04:52 > 0:04:54I found out the reason the bungalow that used to be on this site
0:04:54 > 0:04:57was demolished was because it had subsidence.
0:04:57 > 0:05:00It was underpinned and the problems came back,
0:05:00 > 0:05:03making it utterly unmortgageable.
0:05:03 > 0:05:07I'd like to bet that the ground around here played a big part,
0:05:07 > 0:05:12since it's mainly clay soil, which is prone to shrink and swell.
0:05:12 > 0:05:15One thing's for sure, whoever builds a new home here needs to be
0:05:15 > 0:05:19certain it doesn't go the same way as the old one.
0:05:24 > 0:05:27It's like Glastonbury at festival time on this ground!
0:05:27 > 0:05:29# Only one way to get there
0:05:29 > 0:05:34# You've got to get a little mud on the tyres! #
0:05:34 > 0:05:37But the word "subsidence" is not music to my ears.
0:05:37 > 0:05:41You definitely need to "pile" the work into new foundations,
0:05:41 > 0:05:44which could be expensive, but might well pay off.
0:05:44 > 0:05:46What does a local estate agent think?
0:05:48 > 0:05:54Four Elms is a very popular village, surrounded by open countryside.
0:05:54 > 0:05:56The green belt washes over the area completely
0:05:56 > 0:06:00and very few building plots such as this ever come to the market.
0:06:00 > 0:06:04Having seen the plans, my thoughts are, it would be probably a little
0:06:04 > 0:06:07bit nicer to have the fourth bedroom upstairs rather than downstairs.
0:06:08 > 0:06:12What level of finish should the new house be kitted out to?
0:06:12 > 0:06:16I think to a high specification to obtain the best possible price.
0:06:16 > 0:06:18It is a good plot, it's a good location.
0:06:18 > 0:06:21Therefore it deserves a good specification.
0:06:22 > 0:06:25That greenbelt factor is definitely worth bearing in mind.
0:06:25 > 0:06:28It will mean that there will be planning restrictions, so trying
0:06:28 > 0:06:32to change the plans to build an even bigger house or houses
0:06:32 > 0:06:34might well be a non-starter.
0:06:34 > 0:06:37So if a developer decided to go with the plans as they are,
0:06:37 > 0:06:41maybe with the odd bedroom tweaked, how much could the property be worth?
0:06:44 > 0:06:48The house when completed, depending on specifications and standard
0:06:48 > 0:06:54of construction, should be worth in the region of 625 to £650,000.
0:06:54 > 0:06:57You would have to spend a lot of money to create a high spec
0:06:57 > 0:07:01house here, say 200,000 build costs on top of the plot,
0:07:01 > 0:07:06even if it sold for around the guide price, of 280 to 300,000.
0:07:06 > 0:07:12So the figures stack up for resale, but what about rental?
0:07:12 > 0:07:15There is a good rental market for the property and I believe it would
0:07:15 > 0:07:21achieve a rent in the region of 2,000 to 2,500 per calendar month.
0:07:21 > 0:07:26A rare opportunity to build a house in an extremely desirable location.
0:07:26 > 0:07:27It's not a cheap plot,
0:07:27 > 0:07:31but it could reap decent rewards or make a lovely home for someone.
0:07:31 > 0:07:34Let's see who went for it at the auction.
0:07:34 > 0:07:38Lot number 17 now is, wow, this is a really lovely plot,
0:07:38 > 0:07:41this, over by Edenbridge.
0:07:41 > 0:07:43Planning permission for a four-bedroom detached house
0:07:43 > 0:07:48with a site of a quarter of an acre.
0:07:48 > 0:07:50Start me at £280,000.
0:07:50 > 0:07:53260 to get me running. I'm on the way at 260. I'm obliged.
0:07:53 > 0:07:56260, I'm on the way. At 260.
0:07:56 > 0:08:00And five. 265. 265. And 70. 270.
0:08:00 > 0:08:04270. And five. 275. 275.
0:08:04 > 0:08:06And 80 if you like. 280.
0:08:06 > 0:08:10280, right in front of me in a fresh place. 280.
0:08:10 > 0:08:13And 85. 285 to either of you, if you like.
0:08:13 > 0:08:17285,000. At 285 if you like.
0:08:17 > 0:08:20280 I've got sitting in the front row.
0:08:20 > 0:08:24We're going to sell it for the first time at £280,000.
0:08:24 > 0:08:29A chance to bid again if you want it. Second time at £280,000.
0:08:29 > 0:08:34Third and final time. If you're sure. You're all done at £280,000.
0:08:34 > 0:08:36It's yours, sir, at 280. Excellent plot.
0:08:36 > 0:08:41That final successful bid of 280,000 was made by Andy.
0:08:41 > 0:08:43He's a local developer and I met him
0:08:43 > 0:08:46back at the muddy site to find out why he wanted it.
0:08:46 > 0:08:51- Andy, lovely to meet you.- You too. - Congratulations.- Thank you.
0:08:51 > 0:08:54I want to know all about what's going to go on here
0:08:54 > 0:08:56and why you wanted this plot.
0:08:56 > 0:08:59Well, we're looking at putting a four-bedroom house on here,
0:08:59 > 0:09:02as it's got planning in the auctions for this.
0:09:02 > 0:09:05We're going to do a couple of alterations to it.
0:09:05 > 0:09:08We're changing the garage to an oak garage now.
0:09:08 > 0:09:12And we're going to put in a swimming pool as well now, in the garden.
0:09:12 > 0:09:13Wow!
0:09:13 > 0:09:16We've had some tests done for piling now,
0:09:16 > 0:09:19so we have to pile because of the water level around here.
0:09:19 > 0:09:23So we've had companies come in, do all the setting outs,
0:09:23 > 0:09:27and we're ready to roll in the next hopefully two weeks.
0:09:27 > 0:09:30When the ground is unstable and can't bear the weight of a structure,
0:09:30 > 0:09:34prefabricated piles made of concrete or steel can be
0:09:34 > 0:09:37driven into the soil using a pile driver.
0:09:39 > 0:09:41# Pile driver... #
0:09:45 > 0:09:49Often the piles are embedded into a concrete block to help
0:09:49 > 0:09:53distribute the load, which should result in a stable foundation.
0:09:53 > 0:09:55So, tell me about your experience of building houses.
0:09:55 > 0:10:01I've been building for 30 years now. Mainly extensions, loft conversions.
0:10:01 > 0:10:05And about 20 years ago we decided to build our own house
0:10:05 > 0:10:09and carry on building. So we try to do at least one to two a year now.
0:10:10 > 0:10:13Andy is what you'd call a seasoned developer.
0:10:13 > 0:10:17And it needs someone with experience to wade through this clay soil
0:10:17 > 0:10:20here and not find themselves, well, stuck in the mud!
0:10:24 > 0:10:26Can we talk about the soil, first and foremost?
0:10:26 > 0:10:28And why you're doing the piling?
0:10:28 > 0:10:31Well, the background to the site show that there was some
0:10:31 > 0:10:38kind of maybe lake or pond on here. So we had to have a soil test done.
0:10:38 > 0:10:40Which does show it is clay and part peat as well, which is
0:10:40 > 0:10:43very soft for a normal foundation.
0:10:43 > 0:10:46So that is why we've had to go for piling.
0:10:46 > 0:10:48Is that something you factored into the costs here?
0:10:48 > 0:10:50Yes. When we bought the plots,
0:10:50 > 0:10:54we knew that we would probably have to pile, before we went to auction.
0:10:54 > 0:11:00I had some quotes done, so we knew that it was going to be
0:11:00 > 0:11:04a good £20,000 over from what we'd normally build.
0:11:04 > 0:11:07And that, ladies and gentlemen, is how it's done.
0:11:07 > 0:11:11Andy did his homework, so didn't get any nasty surprises.
0:11:11 > 0:11:14It's definitely an advantage, being local.
0:11:14 > 0:11:17He knows the ground conditions and the market,
0:11:17 > 0:11:20including what goes down swimmingly with buyers!
0:11:21 > 0:11:23The thing that bothers me
0:11:23 > 0:11:27is the fact that there are three bedrooms upstairs and one downstairs.
0:11:27 > 0:11:30What are you going to do to change that layout?
0:11:30 > 0:11:35Well, we're going to take the study upstairs out and there's quite a big
0:11:35 > 0:11:38cupboard upstairs, out, which would give a good size fourth bedroom.
0:11:38 > 0:11:40I was really hoping you were going to say that
0:11:40 > 0:11:43because when I was looking at it, I was really trying to
0:11:43 > 0:11:46rack my brains to think, is there enough room to call that bedroom four?
0:11:46 > 0:11:49- Yeah, definitely.- A swimming pool, whose idea is that?!
0:11:49 > 0:11:52I mean, you really are taking it up to the next level.
0:11:52 > 0:11:54Yes, it was a friend of mine who came up with the idea.
0:11:54 > 0:11:56He's just built a couple of swimming pools now, so he came
0:11:56 > 0:12:00down to the site yesterday and we decided we're going to have one.
0:12:00 > 0:12:02How much do you think it's going to cost you?
0:12:02 > 0:12:05I mean, what is your budget for a build such as this?
0:12:05 > 0:12:07The build on this will be 200,000.
0:12:07 > 0:12:09How much is it going to be worth at the end of the day?
0:12:09 > 0:12:11It's been valued between 650 and 700.
0:12:11 > 0:12:15So hopefully with the pool, it will keep it up near the 700 mark.
0:12:15 > 0:12:18So you are looking at walking away with quite a healthy profit there.
0:12:18 > 0:12:20Yeah, yeah.
0:12:20 > 0:12:23It all sounds very glamorous and lucrative.
0:12:23 > 0:12:26If Andy sticks to his budget, he could possibly be
0:12:26 > 0:12:30looking at a gross profit of over 200,000 on this build.
0:12:30 > 0:12:32He plans to get it done in seven months.
0:12:32 > 0:12:35It all seems remarkably straightforward, so far.
0:12:36 > 0:12:39And are you going to be here on-site, watching the boys,
0:12:39 > 0:12:43- making sure everything runs smoothly? - I'm actually on the tools.
0:12:43 > 0:12:44My trade is plastering.
0:12:44 > 0:12:48So I will be on the tools, doing quite a bit of the work myself,
0:12:48 > 0:12:52- with the chaps as well.- I am so excited to see what it looks like.
0:12:52 > 0:12:55- Thank you for coming along today. Sorry about the weather!- No trouble!
0:12:55 > 0:12:57Good luck with it. Thank you.
0:12:59 > 0:13:02Andy knows what he's about and I'm sure he'll build
0:13:02 > 0:13:04a smasher of a home here.
0:13:04 > 0:13:07I love the swimming pool plan and I reckon there's a profit in it.
0:13:07 > 0:13:11Provided that clay soil doesn't drain his budget!
0:13:11 > 0:13:14You can find out how it goes later in the show.
0:13:18 > 0:13:21I'm in County Durham in the market town of Darlington.
0:13:23 > 0:13:27The town has many impressive landmarks, like this clock tower,
0:13:27 > 0:13:31a legacy of the Pease family who were wealthy Victorian industrialists.
0:13:31 > 0:13:34Intriguingly, the property that went to auction just half a mile away
0:13:34 > 0:13:37from the town centre has a connection.
0:13:40 > 0:13:43Well, this area of Darlington is called the West End.
0:13:43 > 0:13:46And it's extremely popular and desirable.
0:13:46 > 0:13:48Now, the property I'm here to see
0:13:48 > 0:13:52was described in the auction catalogue as substantial.
0:13:52 > 0:13:55That's a good start. And you know what?
0:13:55 > 0:14:00From the outside, it's living up to that description. Five bedrooms.
0:14:00 > 0:14:04The guide price was 399,950 quid.
0:14:08 > 0:14:11This Victorian house was once owned by the Pease family,
0:14:11 > 0:14:14who built the clock tower as well as the town hall
0:14:14 > 0:14:17and the covered market in Darlington.
0:14:17 > 0:14:19Since those heady days of grandeur,
0:14:19 > 0:14:21the property has been divided into two.
0:14:21 > 0:14:25At one time, this must have been an amazing mansion.
0:14:25 > 0:14:28But before you get the carriage and footman ready, please note,
0:14:28 > 0:14:30we'll be using the tradesman's entrance, round the back!
0:14:32 > 0:14:36Well, approaching the property, the entry is a little bit confusing.
0:14:36 > 0:14:38That's probably because this was,
0:14:38 > 0:14:42along with the adjoining property, originally one big house.
0:14:42 > 0:14:44So you've actually only got half of it, if you like.
0:14:44 > 0:14:47You have got the garages. There's four of those.
0:14:47 > 0:14:48That's certainly enough.
0:14:48 > 0:14:50And you come round into this little courtyard area.
0:14:50 > 0:14:53A little bit more of rear garden or front garden,
0:14:53 > 0:14:54whichever you want to call it!
0:14:54 > 0:14:56And then what would be your entrance to the house.
0:14:56 > 0:15:00But out here, before you even go in, you can see, lovely though it is,
0:15:00 > 0:15:04a bit of remedial work required to that brickwork at the top.
0:15:04 > 0:15:05Let's take a look inside.
0:15:09 > 0:15:12Slightly disappointing when you come in through the door there.
0:15:12 > 0:15:14But I suppose this was the rear entrance,
0:15:14 > 0:15:17so you wouldn't expect anything too grand.
0:15:17 > 0:15:19Nice that you've got the tiled floor.
0:15:19 > 0:15:23But it isn't that sort of big, impressive entrance that you'd hope for.
0:15:23 > 0:15:26Similarly, a big sweeping staircase? Well no, there isn't one.
0:15:26 > 0:15:28This is the staircase in the property.
0:15:28 > 0:15:31I guess in the property as a whole, it was the second staircase.
0:15:31 > 0:15:33So it's not that grand.
0:15:33 > 0:15:36And it's almost like there is a dividing line here,
0:15:36 > 0:15:39almost like that was the servants' area at one point.
0:15:39 > 0:15:40There's a couple of small rooms.
0:15:40 > 0:15:43The moment you step into this area of the house,
0:15:43 > 0:15:46you suddenly get that feeling of grandeur.
0:15:46 > 0:15:49Over that side, a really nice-sized rear sitting room,
0:15:49 > 0:15:51front sitting room,
0:15:51 > 0:15:53it depends which way round the house you're going to call it!
0:15:53 > 0:15:56But a good size, with the big windows.
0:15:56 > 0:15:59Over this side, a dining area, separate from the kitchen.
0:15:59 > 0:16:02It looks to be in pretty good condition.
0:16:02 > 0:16:04And then again, the further you walk this way into the house,
0:16:04 > 0:16:06the better it becomes.
0:16:06 > 0:16:11Coming to here, and you've got this absolutely gorgeous living room area.
0:16:11 > 0:16:15Huge great windows. Nice fireplace. Stripped floor.
0:16:15 > 0:16:19Lots of original features like the coving and stuff like that.
0:16:19 > 0:16:24This, this is what I was hoping the house would be like all throughout.
0:16:24 > 0:16:27But at least you've got this room. And that one. With the kitchen.
0:16:27 > 0:16:29Let's carry on.
0:16:29 > 0:16:33# Nothing but a grand illusion... #
0:16:38 > 0:16:42I'm rather disappointed that it's not all grand rooms here.
0:16:42 > 0:16:44In fact, it's a bit of an illusion.
0:16:44 > 0:16:46At the other end of the corridor,
0:16:46 > 0:16:50if I turned left instead of coming up this way, smaller rooms
0:16:50 > 0:16:53we didn't see when I first came in include a study
0:16:53 > 0:16:55and this utility room.
0:16:55 > 0:16:59As well as a downstairs bathroom. This place is vast!
0:17:01 > 0:17:04So, what does the upstairs have to offer?
0:17:04 > 0:17:06Well, a smallish kind of landing area here.
0:17:06 > 0:17:10And then down that way, I don't want to go there yet, we'll go this way.
0:17:10 > 0:17:13Because a very interesting room here, bathroom there,
0:17:13 > 0:17:15bit of a storage cupboard.
0:17:15 > 0:17:20Half-decent-sized bedroom here with a double aspect, which is nice.
0:17:20 > 0:17:23But it's linked by this door into this bedroom.
0:17:23 > 0:17:27So this, to me, is the side of the house you want to be on because
0:17:27 > 0:17:30you've got these fantastic windows again, overlooking the garden.
0:17:30 > 0:17:34Lots of light flooding in. Really nice-sized room.
0:17:34 > 0:17:39But in terms of the layout, it just needs a little bit of tweaking.
0:17:41 > 0:17:44Down the other end of the landing, there's another very large bedroom.
0:17:44 > 0:17:47Then the rooms become a little smaller.
0:17:48 > 0:17:52There are two more bedrooms, one double and one single.
0:17:52 > 0:17:57So that's five bedrooms in total. And the main bathroom.
0:17:57 > 0:18:01Like most of the other rooms, the fixtures are pretty good.
0:18:01 > 0:18:04So you could get away with just adding your own decorative style.
0:18:04 > 0:18:07However, the biggest tweak needs to be downstairs
0:18:07 > 0:18:09in that kitchen/dining area.
0:18:11 > 0:18:14Ideally, you'd have one big open-plan area.
0:18:14 > 0:18:16But obviously, you've got this chimney breast in the middle
0:18:16 > 0:18:18and that is one heck of a job to take that out.
0:18:18 > 0:18:20So I guess that's going to have to stay.
0:18:20 > 0:18:22It would be nice to have something a bit more substantial,
0:18:22 > 0:18:24But as it is, it's in really nice condition.
0:18:24 > 0:18:28I mean, the whole house, you could pretty much move into as it is.
0:18:28 > 0:18:29I mean, look at this.
0:18:29 > 0:18:32You've got granite work surfaces, fairly new units.
0:18:32 > 0:18:34With a house like this, though, of this kind of age, it's going
0:18:34 > 0:18:37to be the stuff that you can't see that you really want to check out.
0:18:37 > 0:18:40What condition is the roof in, what is the damp-proofing,
0:18:40 > 0:18:41if there is any, like?
0:18:41 > 0:18:44You know, the exterior pointing and stuff like that.
0:18:44 > 0:18:47That is the stuff that isn't particularly nice to do,
0:18:47 > 0:18:48because it just costs a lot of money.
0:18:48 > 0:18:52But it's stuff that you're going to have to address.
0:18:52 > 0:18:56So, what does a local estate agent think of this large, five-bedroom
0:18:56 > 0:19:03property that went to auction guided at just £50 shy of £400,000?
0:19:03 > 0:19:05Would it be worth spending a lot of money here?
0:19:07 > 0:19:11It's a lovely property. I just think it needs some modernisation.
0:19:11 > 0:19:16I think the rooms need reconfiguring to a more modern family style of living.
0:19:16 > 0:19:18But because it's semi-detached, I think that is going to
0:19:18 > 0:19:22limit the end value. So although it needs some good investment,
0:19:22 > 0:19:24there should be a limit on how much is spent.
0:19:24 > 0:19:28What about the rental prospects for this grand property?
0:19:29 > 0:19:35Once refurbished, the property will rent for approximately £1,300 per calendar month.
0:19:35 > 0:19:38And the resale value after some cosmetic changes?
0:19:38 > 0:19:40Once refurbished,
0:19:40 > 0:19:45I would expect to sell the property for between 470 and £500,000.
0:19:45 > 0:19:47Well, a bit of an interesting one, this one.
0:19:47 > 0:19:49Because it could go two ways.
0:19:49 > 0:19:53Either you could move in here and live in it pretty much as it is.
0:19:53 > 0:19:56And it would be a lovely home, just like that.
0:19:56 > 0:19:59Or, once you embark on some kind of renovation, it's going to cost
0:19:59 > 0:20:03you a lot of money, but you could turn it into the most amazing house.
0:20:03 > 0:20:07It's all going to be down to the decision of whoever bought it.
0:20:07 > 0:20:10Let's find out who that was when it went under the hammer.
0:20:10 > 0:20:14So we're going to move along now to property, lot number 43.
0:20:14 > 0:20:18Fantastic looking house, this. Substantial Victorian residence.
0:20:18 > 0:20:21Can I ask for 400 to start?
0:20:21 > 0:20:25Do I have 390,000? Thank you. 395. Yeah?
0:20:25 > 0:20:28400,000? 400 bid.
0:20:28 > 0:20:33405. 410. 415? 415.
0:20:33 > 0:20:37420. I'll halve it to 417,500.
0:20:37 > 0:20:41417,500 bid. I'll halve to you as well at 420.
0:20:41 > 0:20:45420 bid. 422 and a half. No?
0:20:45 > 0:20:48I'm selling once at 420,000. It really is your last chance.
0:20:48 > 0:20:54I'm selling for the second time at £420,000.
0:20:54 > 0:20:56Sold to the gentleman and the lady on the right-hand side.
0:20:56 > 0:20:59That final bid of 420,000,
0:20:59 > 0:21:01to seal the deal on this huge Darlington property
0:21:01 > 0:21:05was made by Andy, who was at the auction with his wife, Andrea.
0:21:05 > 0:21:08# That it feels like home
0:21:08 > 0:21:11# And it knocks me out
0:21:11 > 0:21:14# Just to feel this way
0:21:14 > 0:21:17# You know, I broke out... #
0:21:17 > 0:21:23The couple live in the town. Andy runs his own civil engineering and groundworks business.
0:21:23 > 0:21:26Andrea has been a midwife for the past seven years.
0:21:26 > 0:21:29I met up with them both back at the new purchase,
0:21:29 > 0:21:32to hear about what they plan to deliver at this property.
0:21:32 > 0:21:34- Andy, Andrea, lovely to meet you both.- And you.
0:21:34 > 0:21:37Tell me why you wanted to buy this lovely house?
0:21:37 > 0:21:40Well, I think we'd made the decision that we wanted to move
0:21:40 > 0:21:43back into the centre of town, really.
0:21:43 > 0:21:46We live out in the countryside at the moment.
0:21:46 > 0:21:49But we've decided we don't particularly enjoy country life.
0:21:49 > 0:21:54- Oh, right!- We're missing things about the town, which I know is backwards for most people.
0:21:54 > 0:21:57But, um, we miss being able to walk into the town on an evening,
0:21:57 > 0:21:59and walk the kids to school.
0:21:59 > 0:22:03This house is going to be a new family home for Andy, Andrea
0:22:03 > 0:22:06and their children, Jamie and Fiona.
0:22:06 > 0:22:09But the move isn't going to be completely straightforward.
0:22:09 > 0:22:12What's happening with the house you're living in at the moment?
0:22:12 > 0:22:16- It on the market. We're hoping to sell.- You haven't sold it yet? - We haven't sold it yet, no.
0:22:16 > 0:22:20We're in that nail-biting stage, really, of owning two large houses.
0:22:20 > 0:22:23Ooh! So how have you managed to finance this?
0:22:23 > 0:22:26Well, we've mortgaged some of it. And we've used all of our savings,
0:22:26 > 0:22:29just about, to pay for it. We kept a little bit back
0:22:29 > 0:22:31to get some of the work done ourselves.
0:22:31 > 0:22:35But then, until we can sell ours, we won't complete the work.
0:22:35 > 0:22:39# Cash or credit, it doesn't matter
0:22:39 > 0:22:41# As long as my bank books
0:22:41 > 0:22:43# Keep growing fatter
0:22:43 > 0:22:47# Easy Street is my favourite avenue
0:22:47 > 0:22:50# Who needs money? I do. #
0:22:50 > 0:22:54Andy and Andrea are definitely going to need cash.
0:22:54 > 0:22:59That's because there's a lot of that boring but necessary maintenance stuff I mentioned earlier.
0:22:59 > 0:23:02And also, some not so boring stuff.
0:23:02 > 0:23:04Quite a few of the bricks have actually deteriorated to the fact
0:23:04 > 0:23:06where I need to replace the bricks.
0:23:06 > 0:23:10So I've got a lot of bricks to take out and fully repoint the whole house.
0:23:10 > 0:23:13Wow! That's a job and a half in itself.
0:23:13 > 0:23:15It is for somebody, yeah! I must admit I don't fancy that one.
0:23:15 > 0:23:19And then it's got a double hip roof, so there's a lot of work to do on the roof.
0:23:19 > 0:23:22There's a lot of damage to that that needs replacing.
0:23:22 > 0:23:24Convert the garages, lose two of the garages.
0:23:24 > 0:23:28Our final project would be an orangery out the back,
0:23:28 > 0:23:30- if you want to call it the back or the front.- Wow!
0:23:30 > 0:23:32And then internals, I'll leave to Andrea.
0:23:32 > 0:23:35Internals, the biggest piece of work we're doing is taking out
0:23:35 > 0:23:38the chimney breast that's between the breakfast room
0:23:38 > 0:23:40and the kitchen, and then going up stairs,
0:23:40 > 0:23:43the same chimney breast between the two smallest bedrooms.
0:23:43 > 0:23:48So we'll create a really big sort of kitchen dayroom downstairs.
0:23:48 > 0:23:51Do you have any idea how much rubble that is going to create?
0:23:51 > 0:23:55- Oh, yes!- Oh, it'll be all right. - It's best that we're actually not living in here
0:23:55 > 0:23:57why we're doing it, because that is really dirty.
0:23:57 > 0:24:00Yeah. We're going to use some of the corridor space behind the kitchen
0:24:00 > 0:24:04to create a utility room. And then the existing utility room,
0:24:04 > 0:24:06we're going to convert into a sauna and a wet room.
0:24:06 > 0:24:12And then upstairs, create a sort of a really big master suite with dressing room and ensuite,
0:24:12 > 0:24:15from the rooms where we've taken the chimney breast out.
0:24:15 > 0:24:18Not just that, they'll also be replacing the windows.
0:24:18 > 0:24:22All 25 of them. So this is going to be a major job.
0:24:22 > 0:24:26But then Andy does run a civil engineering and groundworks company.
0:24:26 > 0:24:29The general building work, the demolition, I would do it myself.
0:24:29 > 0:24:31All of the first fixed works, I'll do myself.
0:24:31 > 0:24:34But I will utilise plumbers and electricians.
0:24:34 > 0:24:37What's the budget for this little adventure?
0:24:37 > 0:24:4070,000, we hope we will do it all bar the orangery.
0:24:40 > 0:24:43What kind of timescale is there for sorting it?
0:24:43 > 0:24:46- Five to six months.- OK.- I think it all depends on selling ours.
0:24:46 > 0:24:50- If ours sells, five to six months. - Well listen, congratulations.
0:24:50 > 0:24:52I'm very excited to see how you get on sorting it out.
0:24:52 > 0:24:56- So, good luck with it.- Thank you. - Thank you very much.
0:24:56 > 0:25:02Well, Andy and Andrea are clearly delighted with what will become their new family home.
0:25:02 > 0:25:06But the amount of work they're taking on, gosh, it frightens even me.
0:25:06 > 0:25:12I mean, just to take out this wall here in the kitchen/dining area,
0:25:12 > 0:25:14what a job that's going to be.
0:25:14 > 0:25:18Well, you can find out how many skips they end up using
0:25:18 > 0:25:20later in the show.
0:25:22 > 0:25:25Coming up, there's plenty on offer in this Derby property
0:25:25 > 0:25:28both inside and out.
0:25:28 > 0:25:31What a fantastic additional bonus to have.
0:25:31 > 0:25:36We return to Darlington, where time's taken its toll.
0:25:36 > 0:25:39It's a very old house with years of neglect.
0:25:39 > 0:25:42We just have to put all of those things right.
0:25:42 > 0:25:47But first it is back to Kent, where Andy's had a hard time.
0:25:47 > 0:25:51About 180 tonnes of cross concrete in the garden, to raise the garden.
0:25:54 > 0:25:58Earlier in the programme, we were in the Kent village of Four Elms,
0:25:58 > 0:26:01seven miles from Sevenoaks.
0:26:07 > 0:26:10And the numbers certainly seem to be stacking up for this plot,
0:26:10 > 0:26:13with planning permission for a four-bedroom house.
0:26:13 > 0:26:17Local developer Andy bought it for 280,000.
0:26:17 > 0:26:20He and I agreed that the only flaws in the plans
0:26:20 > 0:26:23were the fourth bedroom being on the ground floor,
0:26:23 > 0:26:26and the small matter of the site having a history of subsidence.
0:26:26 > 0:26:29However, none of this worried him unduly.
0:26:29 > 0:26:32We've had some tests done for piling now.
0:26:32 > 0:26:35So we have to pile because of the water level round here.
0:26:35 > 0:26:38And we're ready to roll in the next, hopefully, two weeks.
0:26:38 > 0:26:40Is that something you've factored into the cost?
0:26:40 > 0:26:45Yes, when we bought the plot we knew that we'd probably have to pile.
0:26:45 > 0:26:50Andy was also really plunging in, with plans for a swimming pool
0:26:50 > 0:26:53and an oak garage, all to be done in seven months,
0:26:53 > 0:26:56on a budget of 200,000.
0:26:59 > 0:27:02Seven months and three weeks later, I'm back.
0:27:07 > 0:27:12And Andy's five-star, four-bed executive house is built,
0:27:12 > 0:27:15along with this oak garage, as Andy had promised.
0:27:18 > 0:27:22At the back of the house, Andy, his partner Ali and new puppy Leo,
0:27:22 > 0:27:25have moved in, and can enjoy this sun terrace,
0:27:25 > 0:27:28which spans the whole width of the house.
0:27:29 > 0:27:34Inside, the light floods into this timber-floored open-plan living space.
0:27:37 > 0:27:41And I really love this large open kitchen
0:27:41 > 0:27:45that stretches from the front of the property to the back.
0:27:45 > 0:27:49This is the dining area and the kitchen area, open-planned.
0:27:49 > 0:27:53This is where we've taken out the wall from the existing drawings
0:27:53 > 0:27:55and made it more into an open-planned area.
0:27:55 > 0:28:02And then this is the lounge, which we created with the bi-folding doors opening up into the garden.
0:28:02 > 0:28:06Off the hall is a cloakroom and two further rooms at the front.
0:28:06 > 0:28:11The interior design has all been down to Ali.
0:28:11 > 0:28:15The original plans had the fourth bedroom on the ground floor.
0:28:15 > 0:28:19That didn't work for me. Andy and Ali thought exactly the same.
0:28:19 > 0:28:23So the cupboard and study area have gone.
0:28:23 > 0:28:28And... Ta-da! Four upstairs bedrooms now!
0:28:31 > 0:28:34They've gone for a very high-end look throughout.
0:28:36 > 0:28:40Moving that bedroom upstairs has really worked well.
0:28:40 > 0:28:43Yeah, I think that was really good because we created a fourth bedroom,
0:28:43 > 0:28:48which was a really good size. And we also put an en suite on the master bedroom.
0:28:48 > 0:28:52We put wardrobes all down one wall, so there's lots of storage.
0:28:52 > 0:28:55Andy didn't have to resubmit the plans for the changes he's made.
0:28:55 > 0:28:59That meant there were no delays. So building this lovely house
0:28:59 > 0:29:02in just over seven months is pretty good going.
0:29:02 > 0:29:07However, sadly, there's no lounging by the pool with cocktails here, after all.
0:29:07 > 0:29:09The garden does look lovely.
0:29:09 > 0:29:12But what happened to those swimming pool plans?
0:29:12 > 0:29:15Well, we found out it was a very high water level.
0:29:15 > 0:29:20This is why we had to pile it. We probably had about 180 tonnes of cross concrete in the garden,
0:29:20 > 0:29:23to raise the garden because of the water levels.
0:29:23 > 0:29:26So I think having a swimming pool would have caused a lot of problems
0:29:26 > 0:29:28with the high water levels.
0:29:28 > 0:29:31Andy's heating the house from an external heat source pump,
0:29:31 > 0:29:33powered by the solar panels.
0:29:33 > 0:29:37So I wonder, has the budget ended up in hot water?
0:29:37 > 0:29:41We stuck to the budget on the 200,000.
0:29:41 > 0:29:44But I'd allowed for solar panels.
0:29:44 > 0:29:47But I decided to go for an air source heat pump.
0:29:47 > 0:29:52So, in total, that probably put the budget up about another 15-20,000.
0:29:52 > 0:29:56Added to the 280,000 Andy paid at auction,
0:29:56 > 0:30:00that takes his total investment here to 500,000.
0:30:00 > 0:30:02Andy and Ali moved in about a month ago.
0:30:02 > 0:30:05And Andy's son is going to join them soon as well.
0:30:05 > 0:30:08So, Ali, after a few weeks here,
0:30:08 > 0:30:11what's been the most enjoyable aspect of your new home?
0:30:11 > 0:30:14I think this open plan living area.
0:30:14 > 0:30:18This is what I absolutely love, being able to cook and chat.
0:30:18 > 0:30:22Really great. And it's all overlooking the garden as well.
0:30:22 > 0:30:28Puppy Leo, who's a cockapoo, seems to be cock-a-hoop with the garden.
0:30:28 > 0:30:31The couple plan to live in the house for at least nine months
0:30:31 > 0:30:33and then maybe sell.
0:30:33 > 0:30:38We invited two local estate agents to take a look at the property
0:30:38 > 0:30:40and give their current valuations,
0:30:40 > 0:30:43to see if Andy's hard work has paid off.
0:30:43 > 0:30:45First impressions of the property when you approach,
0:30:45 > 0:30:48is that it has a good kerb appeal.
0:30:48 > 0:30:51It looks attractive from the outside. It seems to have been done very well.
0:30:51 > 0:30:54It fits in nicely with the surrounding properties,
0:30:54 > 0:30:57and keeps the main fabric of the village going.
0:30:57 > 0:31:00The living space here at the property is very versatile.
0:31:00 > 0:31:04You've got good sized rooms, tall ceilings and it's very bright.
0:31:04 > 0:31:07The bedrooms are all good doubles, with an ensuite,
0:31:07 > 0:31:10which is to a high standard and specification.
0:31:10 > 0:31:14It's clean, it's tidy, it's bright, its contemporary.
0:31:14 > 0:31:16And that's what people are looking for.
0:31:16 > 0:31:19The estate agents estimate it could generate a rental income
0:31:19 > 0:31:23of between 3,000 and 3,250 per calendar month.
0:31:23 > 0:31:27That's a yield of 7%. So, does that tempt them?
0:31:27 > 0:31:30No!
0:31:30 > 0:31:35No, I'm happy actually living in here until early next year,
0:31:35 > 0:31:38until we decide on another project.
0:31:38 > 0:31:42I don't think I could tear myself away from this place if it was mine.
0:31:42 > 0:31:45However, profit is profit.
0:31:45 > 0:31:48And I expect that would be Andy's motivation for moving on.
0:31:48 > 0:31:54Has his £500,000 investment made the most of this unpromising plot?
0:31:54 > 0:31:57If the property came to the market it would achieve
0:31:57 > 0:32:01something between £775,000 and £800,000.
0:32:01 > 0:32:06This is up to 150,000 more than he valued it when he first saw the plot.
0:32:06 > 0:32:08It's always tricky valuing off plan.
0:32:08 > 0:32:11And he now feels that, as the spec's so good,
0:32:11 > 0:32:15and it now sports four proper bedrooms, that boosts the value.
0:32:15 > 0:32:17What did the other estate agent think?
0:32:17 > 0:32:20I'd look to put the property on the market with a guide price
0:32:20 > 0:32:23of between 785,000 and 800,000.
0:32:23 > 0:32:26And I would look to achieve somewhere in the region.
0:32:26 > 0:32:32A profit of 275 to 300,000, before tax and expenses.
0:32:32 > 0:32:36- Great prices.- Wow! - I valued it between seven and 750.
0:32:36 > 0:32:40Definitely a nice profit in 19 weeks.
0:32:40 > 0:32:44- That's all it took to build. - And it's a lovely place to live. - Yeah.- For a little while.
0:32:44 > 0:32:48With Andy's building expertise and Ali's interior design skills,
0:32:48 > 0:32:51they've created an impressive new home here.
0:32:51 > 0:32:53They seem a great development double act.
0:32:53 > 0:32:58Andy's done it really well. And he's done it really quickly as well.
0:32:58 > 0:33:01So yeah, I think we've worked, Ali doing her interior design,
0:33:01 > 0:33:06she's put some good colours and furniture together.
0:33:06 > 0:33:09Well done. Worth celebrating. Cheers!
0:33:14 > 0:33:20I'm in Alveston, only three miles south-east of Derby city centre.
0:33:20 > 0:33:23Once a village, it became part of Derby in the late 1900s.
0:33:25 > 0:33:27# So I got me a little home
0:33:27 > 0:33:30# On the outskirts of town. #
0:33:30 > 0:33:34Well, I'm here in Alveston to see the kind of property
0:33:34 > 0:33:38that's synonymous with the suburbs. A three-bedroom semi-detached.
0:33:38 > 0:33:41In this case it's got a drive, it's got a garage,
0:33:41 > 0:33:44it looks pretty good from the outside.
0:33:44 > 0:33:48It had a guide price of 88,000 quid. Let's take a look inside.
0:33:48 > 0:33:51I'm pleased to see the outside has what looks like
0:33:51 > 0:33:54new double glazing, which is promising.
0:33:54 > 0:33:58In through the front door, stairs up to your bedrooms.
0:33:58 > 0:34:01One thing which I don't particularly like is that, a glass panel.
0:34:01 > 0:34:06I think throwing light into the kitchen, but for some reason, that jars with me a little bit.
0:34:06 > 0:34:10However, what I do like is this room here. You've got dual aspect.
0:34:10 > 0:34:15It is a big, knocked-through living area. Open fire, which is good.
0:34:15 > 0:34:18And it's a really nice space. It works for me.
0:34:18 > 0:34:22It feels - well, it makes the house feel a really nice size.
0:34:22 > 0:34:25Erm, but again, good and bad. What doesn't work is this.
0:34:25 > 0:34:28The kitchen. As you can see, it's really not suitable for this house.
0:34:28 > 0:34:32However, the solution, I think, is very simple.
0:34:32 > 0:34:35This wall here, knock that through to create a really nice room.
0:34:35 > 0:34:39Maybe a breakfast bar. Suddenly this is turning into a fantastic family home.
0:34:39 > 0:34:43I might have radical thoughts about the downstairs layout,
0:34:43 > 0:34:45but upstairs it's all pretty standard.
0:34:45 > 0:34:48And there's nothing wrong with that. Three bedrooms,
0:34:48 > 0:34:52including a good-sized double at the front with a charming bay window.
0:34:52 > 0:34:55Next door, there's a single bedroom.
0:34:55 > 0:34:59And at the back, a double bedroom where it might be worth considering
0:34:59 > 0:35:02taking the chimney breast out to create even more space.
0:35:02 > 0:35:04But of course that costs money.
0:35:04 > 0:35:06Whether you do or not might depend on
0:35:06 > 0:35:11whether it was bought for anything like that £88,000-plus guide price.
0:35:11 > 0:35:14What I wouldn't scrimp on is checking the rather
0:35:14 > 0:35:18suspect-looking electrics, and the central heating.
0:35:18 > 0:35:20You don't want any surprise problems.
0:35:21 > 0:35:26It was all going so well, and then I came into the bathroom here
0:35:26 > 0:35:30and unfortunately, I think we've got some real problems.
0:35:30 > 0:35:34Initially you notice this crack above the bath -
0:35:34 > 0:35:36that in itself isn't too bad,
0:35:36 > 0:35:38but then you start looking a bit further.
0:35:38 > 0:35:40The window frame here is kind of skew-whiff.
0:35:40 > 0:35:43Same for that door frame, another crack there in that wall.
0:35:43 > 0:35:47It seems to me like this corner of the whole property
0:35:47 > 0:35:50is actually sinking, I think we've got subsidence.
0:35:50 > 0:35:54It could be problems with the drains downstairs and outside - whatever,
0:35:54 > 0:35:58this is potentially a very serious issue, and you need to get this
0:35:58 > 0:36:01checked out before you go anywhere near the property.
0:36:01 > 0:36:03# Crackin' up
0:36:03 > 0:36:06# I'm gettin' ready to go, had enough
0:36:06 > 0:36:08# I can't take any more... #
0:36:08 > 0:36:11It could of course just be historic settlement,
0:36:11 > 0:36:13with nothing moving now -
0:36:13 > 0:36:17indeed, there are no signs of any cracks on the exterior walls,
0:36:17 > 0:36:19although there's obviously been some repointing
0:36:19 > 0:36:22of the brickwork at some point in the past.
0:36:22 > 0:36:24But to be really certain whether it's subsidence or not
0:36:24 > 0:36:27it's always best to get a professional survey done.
0:36:27 > 0:36:31At the rear of the property, nice to see double doors out onto the garden,
0:36:31 > 0:36:35and there's a potential for doing some kind of extension which is good,
0:36:35 > 0:36:37but a real surprise is this - have a look!
0:36:37 > 0:36:40It's a garden, and it goes on and on.
0:36:40 > 0:36:43You've got some nice apple trees and things like that,
0:36:43 > 0:36:46cos all the way down here, fantastic little allotment,
0:36:46 > 0:36:49a place to grow your vegetables,
0:36:49 > 0:36:53and look at this! All the way to here.
0:36:53 > 0:36:57What a fantastic additional bonus to have.
0:36:57 > 0:37:02# Did you know your garden's overgrown?
0:37:02 > 0:37:04# And what is shown?
0:37:04 > 0:37:08There's some fairly backbreaking work to clear this out,
0:37:08 > 0:37:11but this could be just what a keen gardener's been looking for.
0:37:11 > 0:37:15There's even a garage to store the tools.
0:37:15 > 0:37:19To find out a bit more about the potential we invited the auctioneer who sold the semi
0:37:19 > 0:37:24to come and have a look around and tell us what he'd recommend doing here.
0:37:24 > 0:37:27I think it's a general makeover for the whole house -
0:37:27 > 0:37:30the fixtures and fittings are fairly old, the decor is fairly old.
0:37:30 > 0:37:33It all just needs bringing into the 21st century.
0:37:35 > 0:37:39How much could the house sell for after refurbishment?
0:37:39 > 0:37:43Whatever you do to this property, without structural extensions
0:37:43 > 0:37:48you're not going to raise its value beyond about £125,000 to £130,000.
0:37:48 > 0:37:51What effect would adding an extension have?
0:37:51 > 0:37:54If you extended but it was still three bedrooms,
0:37:54 > 0:37:58and I imagine it would be because you'd only do a single-storey extension on the back,
0:37:58 > 0:38:02you could probably add about another £10,000 to £15,000 to that.
0:38:02 > 0:38:04That wouldn't be cost-effective.
0:38:04 > 0:38:08In that case, sticking with the current layout,
0:38:08 > 0:38:09what rental income could it produce?
0:38:11 > 0:38:13If this was on the rental market,
0:38:13 > 0:38:18once renovated it would have a rental value of about £575 a calendar month.
0:38:18 > 0:38:22So, a fairly straightforward semi here -
0:38:22 > 0:38:25it needs a bit of work to sort it out, especially that
0:38:25 > 0:38:28crack in the bathroom which certainly needs investigating.
0:38:28 > 0:38:33But basically, who fancied resuscitating this semi in Alveston?
0:38:33 > 0:38:36Let's find out, when it went to auction.
0:38:36 > 0:38:42Lot 50, and a traditional 1930s bay windowed three-bedroom semi.
0:38:42 > 0:38:45Requires some upgrading and modernisation.
0:38:45 > 0:38:48Start me on this one, ladies and gentlemen, what will I say for it?
0:38:48 > 0:38:5088 is bid, thank you.
0:38:50 > 0:38:5389? 89, I've got.
0:38:53 > 0:38:5589,000. At 90?
0:38:55 > 0:38:57£90,000. 91?
0:38:57 > 0:38:5991 is bid.
0:38:59 > 0:39:01At 91. 92?
0:39:01 > 0:39:0492,000. 93?
0:39:04 > 0:39:06At 93. 94?
0:39:06 > 0:39:1094 is the bid. 95, one more?
0:39:10 > 0:39:13£94,000. 95, quickly.
0:39:13 > 0:39:17That's just short of reserve, so I can't do it at 94.
0:39:17 > 0:39:21Unfortunately the property didn't reach its reserve price during the auction.
0:39:21 > 0:39:24However, it was bought immediately after the auction
0:39:24 > 0:39:28for £95,500 by John, here on the right.
0:39:28 > 0:39:33We didn't see him bidding because, as he'd lost out on his first property choice earlier in the day,
0:39:33 > 0:39:37he nipped out for a break so missed this one going under the hammer.
0:39:37 > 0:39:41I met up with him and his friend James to find out more.
0:39:41 > 0:39:43John, James. Great to meet you both.
0:39:43 > 0:39:45What happened there, then? Cos it didn't sell.
0:39:45 > 0:39:48Well, basically we've gone in to get the first lot,
0:39:48 > 0:39:52and the first lot went for a lot more than what we'd budgeted for
0:39:52 > 0:39:55so we've gone for the 50th lot, so obviously there's a big gap.
0:39:55 > 0:39:57So we nipped out to grab something to eat,
0:39:57 > 0:40:02and by the time we got back it was on the 50th lot, and it didn't sell.
0:40:02 > 0:40:04The reserve was at 97,
0:40:04 > 0:40:09so then we went in, put in an offer for 95 and a half, and it was accepted.
0:40:09 > 0:40:13John was at the auction with his grandad, who's also called John.
0:40:13 > 0:40:16His grandad's a property developer from London.
0:40:16 > 0:40:19So tell me why you wanted to buy the house.
0:40:19 > 0:40:22Well, basically I'm looking for a project to do during the winter.
0:40:22 > 0:40:27I normally work a lot during the summer, and then the winter is
0:40:27 > 0:40:30- when it quietens down a little bit.- So what do you do?
0:40:30 > 0:40:34I'm a football freestyler. So I do shows with a ball, body doubling,
0:40:34 > 0:40:39events, corporate parties... So I basically do tricks with a football.
0:40:39 > 0:40:44- Where did that come from, then? - I used to play football, and then I stopped playing when I was 16,
0:40:44 > 0:40:46entered a competition with freestyle.
0:40:46 > 0:40:51Won a competition, and then in 2008 I won the UK Championships for football freestyle.
0:40:51 > 0:40:53And to show us what he means,
0:40:53 > 0:40:56I couldn't resist getting John to give us a quick demo.
0:40:58 > 0:41:01# It's tricky!
0:41:01 > 0:41:04# It's tricky, tricky, tricky, tricky...
0:41:04 > 0:41:08Impressive stuff, and John's hoping to score with this property as well.
0:41:11 > 0:41:13It's his second development project.
0:41:13 > 0:41:17First time around he had the help and guidance of his grandad,
0:41:17 > 0:41:20but on this project, Grandad won't be so involved.
0:41:20 > 0:41:24John's mate James will be lending a hand.
0:41:24 > 0:41:27So James, what's your involvement in all this going to be?
0:41:27 > 0:41:30Basically I'm just going to help John out in what needs doing.
0:41:30 > 0:41:33- And what's your sort of speciality? - Electrics, mainly.
0:41:33 > 0:41:35I was supposed to be at college full-time,
0:41:35 > 0:41:37but the funding got removed for the course.
0:41:37 > 0:41:42So now I've got some more spare time I'll be helping a friend out.
0:41:42 > 0:41:46I've been doing labouring and building work for about four years. So it works out well.
0:41:46 > 0:41:47And is he going to pay you?
0:41:47 > 0:41:51- No, no, I'll do it as a friend. - We'll sort him out.
0:41:54 > 0:41:56It's not just James who'll be here to help.
0:41:56 > 0:42:01John's dad is a joiner, and James's dad is a qualified electrician.
0:42:01 > 0:42:06So, if John's grandad turns up as well there'll be enough of them for a game of five-a-side footy.
0:42:06 > 0:42:09But John's got an arrangement with his developer grandad
0:42:09 > 0:42:14that means he doesn't have to invest a footballer's salary.
0:42:14 > 0:42:16I basically put in as much money as I can to get in the house
0:42:16 > 0:42:21and he puts the rest, and then I pay for the materials, the labour,
0:42:21 > 0:42:23and whatever else needs to be paid for.
0:42:23 > 0:42:26He's going to stay at home - he's from London -
0:42:26 > 0:42:30so he'll be doing his own property whilst we're doing this one.
0:42:30 > 0:42:34- So, tell me what you're going to do to sort this place out. - There's a few things really.
0:42:34 > 0:42:36Up in the bathroom there's a nice crack in the wall,
0:42:36 > 0:42:40we need to strip that back, see what's going on behind there.
0:42:40 > 0:42:43This wall'll be coming out.
0:42:43 > 0:42:47The kitchen needs doing, we're going to brick up the wall the other side here.
0:42:47 > 0:42:50We're just going to basically strip it back to a blank canvas
0:42:50 > 0:42:54and then put in the kitchen, bathroom suite and so on.
0:42:54 > 0:42:59- What's the timescale? - I'm saying two to three months. It's not a massive project.
0:42:59 > 0:43:03- Yeah. As soon as you leave today we'll be cracking on with it.- Right. - That's my main thought on the place.
0:43:03 > 0:43:06And how much it's going to cost, the budget?
0:43:06 > 0:43:08We're saying about 4,000 to 6,000.
0:43:08 > 0:43:12- Quite tight, that!- Yeah.- Kitchen, bathroom?- Electrics?
0:43:12 > 0:43:14I know you've got your mate doing it, but...
0:43:14 > 0:43:15It's all about knowing people.
0:43:15 > 0:43:18- It's favours, isn't it? - It's all favours.
0:43:18 > 0:43:23- Well, listen - congratulations. We look forward to seeing how you get on. Good luck with it.- Cheers.
0:43:23 > 0:43:25Freestyling footballer John carrying on
0:43:25 > 0:43:27in the property developing game with this house.
0:43:27 > 0:43:30Has he found his perfect match here?
0:43:30 > 0:43:32Hopefully there won't be too many financial penalties
0:43:32 > 0:43:35as a result of things taking longer than expected.
0:43:35 > 0:43:39You can find out how it all goes in the second half.
0:43:42 > 0:43:46Well, we have given our buyers time, but has it all gone to plan?
0:43:46 > 0:43:52- Will we return to bare plaster or a perfect finish?- Let's find out.
0:43:52 > 0:43:56We're now returning to the County Durham market town of Darlington...
0:43:56 > 0:43:59# Drivin' into Darlington County
0:43:59 > 0:44:02# Sha-la-la-la la-la-la... #
0:44:02 > 0:44:07..where earlier in the programme Andy and his wife Andrea paid £420,000
0:44:07 > 0:44:12for this five-bedroom Victorian house in half of this imposing property.
0:44:12 > 0:44:15They wanted it so they could relocate from the country
0:44:15 > 0:44:20to be nearer the town centre. And they had ambitious plans for it.
0:44:20 > 0:44:24The biggest piece of work we're doing is taking out the chimney breast that's between
0:44:24 > 0:44:27the breakfast room and the kitchen, and then going upstairs,
0:44:27 > 0:44:30the same chimney breast between the two smallest bedrooms.
0:44:30 > 0:44:34- Do you have any idea how much rubble that is going to create? - Oh, yes.- Oh, It'll be all right.
0:44:35 > 0:44:39Andy runs a civil engineering and groundworks company, so he was well prepared.
0:44:42 > 0:44:45The general building work, the demolition, I'll be doing all myself.
0:44:45 > 0:44:46All of the first-fix works I'll do myself.
0:44:46 > 0:44:49But I will utilise plumbers and electricians.
0:44:50 > 0:44:53The couple haven't yet sold their current house,
0:44:53 > 0:44:55and had set a budget of £70,000 for the work,
0:44:55 > 0:44:59which they hope to complete in five to six months.
0:44:59 > 0:45:03Well, it's now ten and a half months later, and Andy, Andrea,
0:45:03 > 0:45:07plus Jamie and Fiona, will be moving in in a couple of weeks.
0:45:07 > 0:45:10Their current house is still on the market, but their new home's looking great.
0:45:13 > 0:45:16The former kitchen, that was a little shy,
0:45:16 > 0:45:21hiding behind the chimney breast, is now centre stage and very confident.
0:45:22 > 0:45:26What we've done in the kitchen... Originally the kitchen was
0:45:26 > 0:45:29two separate rooms, with a big double thickness chimney breast
0:45:29 > 0:45:33dividing the two, so we've taken that chimney breast out,
0:45:33 > 0:45:35and created a doorway in the corner
0:45:35 > 0:45:38and a utility room from part of the corridor.
0:45:38 > 0:45:41And then at this end of the room we had two windows,
0:45:41 > 0:45:44which we've taken out and made into the French doors,
0:45:44 > 0:45:47put the stone flooring down,
0:45:47 > 0:45:52and then obviously the oak kitchen. And I'm really pleased with the overall effect.
0:45:53 > 0:45:57The living room has had a floral makeover,
0:45:57 > 0:45:59though the dining room still needs some work.
0:45:59 > 0:46:02Upstairs, as planned, the chimney breast
0:46:02 > 0:46:04was also removed from the first floor,
0:46:04 > 0:46:06between two of the smaller bedrooms.
0:46:06 > 0:46:10This has resulted in this large master bedroom.
0:46:11 > 0:46:15The end of the original corridor has been blocked off,
0:46:15 > 0:46:19and the small former bathroom is now the ensuite.
0:46:19 > 0:46:23It sounds like the demolition was as messy as I'd feared.
0:46:23 > 0:46:27We had lots of different people at it, including my children and children's friends,
0:46:27 > 0:46:29everybody's enjoyed taking it down.
0:46:29 > 0:46:32I think it was about six skips in the end, which was less than I'd thought.
0:46:33 > 0:46:36Two of the remaining three bedrooms are for their children.
0:46:36 > 0:46:39Fiona's gone fuchsia.
0:46:41 > 0:46:45And Jamie's gone more neutral, with a splash of blue.
0:46:45 > 0:46:48The connecting door from Fiona's room to the guest room
0:46:48 > 0:46:51has now been blocked off.
0:46:51 > 0:46:54It's a lovely double aspect room.
0:46:54 > 0:46:59The large family bathroom has remained in its original location.
0:46:59 > 0:47:02The room now has much more of a character look -
0:47:02 > 0:47:05all the period plumbing has been replaced.
0:47:05 > 0:47:08And it's all been rewired, too.
0:47:08 > 0:47:11The roof needed a fair amount of attention,
0:47:11 > 0:47:13and that was due to a period feature too.
0:47:13 > 0:47:19It was a wooden drainage system, that needed replacing from when the house was built.
0:47:19 > 0:47:21It was a very old house,
0:47:21 > 0:47:23and...well, years of neglect.
0:47:23 > 0:47:25We just had to put all of those things right.
0:47:25 > 0:47:29The house had scaffolding up for six weeks.
0:47:29 > 0:47:33With the help of builders from Andy's civil engineering and groundworks company,
0:47:33 > 0:47:34the gable ends have been repaired.
0:47:34 > 0:47:39The brickwork's been repointed, and the garage roof removed.
0:47:40 > 0:47:43New wooden windows have been installed throughout.
0:47:43 > 0:47:47What part has Andrea played in the refurbishment?
0:47:47 > 0:47:49My role has predominantly been the decorating -
0:47:49 > 0:47:54stripping paint off skirting boards, stripping woodchip off walls,
0:47:54 > 0:47:56and then starting to put it back together.
0:47:56 > 0:48:00The floor in the lounge has been stripped and re-stained.
0:48:00 > 0:48:04And they've retained much of the original Victorian character.
0:48:04 > 0:48:09They've already bought a new floor for the hall and dining room, which has yet to be laid.
0:48:09 > 0:48:11So, what's left on the to-do list?
0:48:11 > 0:48:14The study, which is now the workshop,
0:48:14 > 0:48:16has to be cleaned out, shelves down,
0:48:16 > 0:48:19and in what used to be the downstairs bathroom and toilet,
0:48:19 > 0:48:22that needs a floor down.
0:48:22 > 0:48:24It's a wet room, cos we've put a shower in.
0:48:24 > 0:48:27We sort of pre-prepped for an orangery on the front.
0:48:27 > 0:48:31We've got the bi-fold doors in the dining room, and the door in the living room.
0:48:31 > 0:48:34The couple are considering extending into the garage in the future.
0:48:34 > 0:48:37But with no extra income yet from the sale of THEIR house,
0:48:37 > 0:48:41what have they spent on the project up to this point?
0:48:41 > 0:48:45The budget was 70 to do it. We're running now roughly about 84.
0:48:46 > 0:48:50We're hoping to get it all done, 88 to 90 at the most.
0:48:52 > 0:48:58They paid £420,000 at auction, which takes their total investment so far to 510,000.
0:49:00 > 0:49:05Time to see what two local estate agents think of how it looks now,
0:49:05 > 0:49:07and the plans for the future.
0:49:07 > 0:49:10I'm very impressed with the house. Grand period property.
0:49:10 > 0:49:13The work that's been done has been done well. Lovely front garden.
0:49:13 > 0:49:16I think the house has got a lot going for it.
0:49:16 > 0:49:18The kitchen downstairs is lovely.
0:49:18 > 0:49:22And certainly the bedrooms upstairs, their size, fit very well in this current market.
0:49:22 > 0:49:26How much do the experts reckon the property could achieve on the market
0:49:26 > 0:49:28once the work is completed?
0:49:28 > 0:49:33More than the £510,000 Andy and Andrea have invested?
0:49:33 > 0:49:35Once the property is finished off,
0:49:35 > 0:49:41my current value would be £475,000 to £495,000.
0:49:41 > 0:49:43Once the work is completed I would suggest that
0:49:43 > 0:49:47the property would be likely to sell for a figure just shy of £500,000.
0:49:47 > 0:49:50Well, there's no initial profit here,
0:49:50 > 0:49:54but as Andrea and Andy have bought the house as their new family home,
0:49:54 > 0:49:56I doubt they will be too disappointed.
0:49:57 > 0:50:01- It's about what we expected. We thought it would be just under the 500 mark, didn't we?- Yeah.
0:50:01 > 0:50:06You said just under 500 and I said 460-ish, so yeah, it's a little bit more.
0:50:06 > 0:50:10Both estate agents agree that the property could let
0:50:10 > 0:50:14for between £1,250 and £1,500 per calendar month,
0:50:14 > 0:50:17producing a yield of around 3%.
0:50:18 > 0:50:21I could charge you that, then(!)
0:50:21 > 0:50:23No, it's not something we'll be looking at doing.
0:50:23 > 0:50:27Our aim was to make it a family home, trying to keep as many
0:50:27 > 0:50:30features as we can, and somewhere that we'll enjoy living in.
0:50:30 > 0:50:34And I think that's what we've made, we've made it somewhere we'll enjoy living.
0:50:40 > 0:50:44Earlier in the programme in the Derby suburb of Alveston,
0:50:44 > 0:50:50this 1930s three-bed semi was bought for £95,500
0:50:50 > 0:50:53by John, who we met with his friend James.
0:50:54 > 0:50:57John's a football freestyler,
0:50:57 > 0:51:01and this was the second investment property he'd bought with his grandad.
0:51:01 > 0:51:06He hopes to continue doing this until he can eventually buy his own house.
0:51:06 > 0:51:08I basically put in as much money as I can to get in the house
0:51:08 > 0:51:13and he puts the rest, and then I pay for the materials, the labour,
0:51:13 > 0:51:16and whatever else needs to be paid for.
0:51:16 > 0:51:20His old school friend James was going to help out.
0:51:20 > 0:51:23- What's your sort of speciality? - Electrics, mainly.
0:51:23 > 0:51:25I was supposed to be at college full-time,
0:51:25 > 0:51:27but the funding got removed for the course.
0:51:27 > 0:51:31So now I've got some more spare time I'll be helping a friend out.
0:51:32 > 0:51:36James had also been doing building work for the last four years.
0:51:36 > 0:51:38His dad's an electrician and John's is a builder
0:51:38 > 0:51:41so there was plenty of experience to call on. Which they came to need,
0:51:41 > 0:51:45judging by that crack in the bathroom.
0:51:45 > 0:51:49They had big plans for a small budget - a new kitchen,
0:51:49 > 0:51:54a new bathroom, as well as walls to come down and walls to go up. All in a three-month timescale.
0:51:58 > 0:52:02Well - now, 13 weeks later, it's showtime!
0:52:05 > 0:52:08So, what happened in the front room?
0:52:08 > 0:52:12We all agreed the walls should come down to create an open kitchen...
0:52:12 > 0:52:14and, yes, there it is.
0:52:17 > 0:52:21The boys have gone for a very neutral colour scheme - a wise choice.
0:52:23 > 0:52:28The open-plan slate grey kitchen complements it very well.
0:52:29 > 0:52:33I'm delighted that glass divide to the hall's been bricked up -
0:52:33 > 0:52:37but what about those cracks in the bathroom I'd been concerned about?
0:52:37 > 0:52:40We got a builder to have a look at the cracks in the bathroom,
0:52:40 > 0:52:42and he said structurally everything was fine.
0:52:42 > 0:52:49So we basically re-cemented, and then got on with the tiling and stuff.
0:52:49 > 0:52:51Panic over. That's good news!
0:52:54 > 0:52:56The bedrooms have been equally well finished,
0:52:56 > 0:53:00with new doors, plastering and radiators.
0:53:00 > 0:53:06John and James have concentrated a lot of their time on the house, but who house has been involved?
0:53:06 > 0:53:13The main person that's helped along with us is my dad. He was finishing work and then coming straight here,
0:53:13 > 0:53:15and I think we've both learned a lot from him as well.
0:53:15 > 0:53:20Yeah, definitely. He has been brilliant, he's been really valuable to the success of this project.
0:53:20 > 0:53:24The boys have done reasonably well, with what was a pretty small budget.
0:53:28 > 0:53:32James isn't fully qualified as an electrician, but has been working
0:53:32 > 0:53:35under the supervision of a registered electrician.
0:53:35 > 0:53:40Always remember, when it comes to electrical jobs you must comply with regulations -
0:53:40 > 0:53:44and employ a registered electrician. It's the law.
0:53:47 > 0:53:50It's basically been mostly rewired,
0:53:50 > 0:53:53so we've rewired downstairs and upstairs and put a new fuse board in.
0:53:53 > 0:53:57We've moved some of the light pendants upstairs, cos they were near the window -
0:53:57 > 0:53:59we've moved them to the middle of the room.
0:53:59 > 0:54:01We just made it look up to date.
0:54:01 > 0:54:05We got a qualified electrician in to come in and test everything.
0:54:05 > 0:54:08We've been given the OK and he's going to send the certificate,
0:54:08 > 0:54:10so everything's bang on.
0:54:10 > 0:54:14In UK homes, around 70 people die in electrical accidents every year,
0:54:14 > 0:54:18so make sure you have someone who knows what they're doing.
0:54:18 > 0:54:22Electricity and gas are definitely no-go areas for amateurs.
0:54:22 > 0:54:25However, most of us can turn a hand to gardening,
0:54:25 > 0:54:27and this one has been cleared.
0:54:27 > 0:54:31John and James plan to spend a couple of days getting it in shape.
0:54:31 > 0:54:35There has been a lot of work here. What's been the biggest challenge?
0:54:35 > 0:54:38I think the most difficult part, because we've got no bosses
0:54:38 > 0:54:42and we're working together, is getting each other going.
0:54:42 > 0:54:45If you're doing one or two hours here, nothing will ever get done.
0:54:45 > 0:54:50What effect has that had on John's freestyle football bookings?
0:54:50 > 0:54:54With freestyle, it took a back seat whilst I've been doing the project,
0:54:54 > 0:54:58so I've set up an agency so I can stay hands-on with this project.
0:54:58 > 0:55:02For the future, I'll earn from that as well as doing my own stuff.
0:55:02 > 0:55:05John had set a budget of £4,000 to £6,000.
0:55:05 > 0:55:08Did he manage to keep to that?
0:55:08 > 0:55:10With the budget, we did well.
0:55:10 > 0:55:15We spent £5,500, which was within the 4 to 6 that we aimed for.
0:55:15 > 0:55:19With the £95,500 that John and his grandad paid for the semi,
0:55:19 > 0:55:23that takes the total investment here to £101,000.
0:55:25 > 0:55:27We invited two local property experts
0:55:27 > 0:55:29to have a look.
0:55:29 > 0:55:32What will they think of the finish and the potential?
0:55:32 > 0:55:36First, the auctioneer who sold and viewed it originally.
0:55:36 > 0:55:39It's always interesting when you come into a property you've seen
0:55:39 > 0:55:41in its old clothes, so to speak,
0:55:41 > 0:55:44because the impression is always positive, isn't it?
0:55:44 > 0:55:45When you look around the place,
0:55:45 > 0:55:49you think, "I would have put a better bathroom in than that
0:55:49 > 0:55:51"and I wouldn't have put the wash basin where it is,"
0:55:51 > 0:55:53but the overall impression I think is fine.
0:55:53 > 0:55:56My general impression of the property is good.
0:55:56 > 0:56:00It's a '30s semi, which always looks nice, with the nice bay windows.
0:56:00 > 0:56:04Inside, it's nicely polished, new carpets, decor, new fittings.
0:56:04 > 0:56:08The kitchen and bathroom have been done reasonably cheap
0:56:08 > 0:56:10but still look good.
0:56:10 > 0:56:13How much rental income could the house generate?
0:56:13 > 0:56:18This would have a rental value of about £575 a calendar month.
0:56:18 > 0:56:21I'd be looking round about £550 per calendar month.
0:56:21 > 0:56:24A yield of over 6.5%.
0:56:24 > 0:56:28But rental's not part of the long-term plan for John.
0:56:28 > 0:56:32We want a quick turnaround and we want to get in, get out,
0:56:32 > 0:56:34get the house sold and start the next project.
0:56:34 > 0:56:38John and his grandad intend to sell this place.
0:56:38 > 0:56:42Do the experts value it above the £101,000
0:56:42 > 0:56:44they've invested?
0:56:44 > 0:56:47I think I'd pitch it at £130,000
0:56:47 > 0:56:51and I'd expect offers around £125, maybe a little bit more.
0:56:51 > 0:56:57I'd recommend an asking price not exceeding £125,000.
0:56:57 > 0:56:59That's about as much as, sensibly,
0:56:59 > 0:57:01you would market a property in this location for.
0:57:01 > 0:57:05That would be a profit of between £24,000 and £29,000
0:57:05 > 0:57:07before tax and expenses
0:57:07 > 0:57:10for John and his grandad to share.
0:57:10 > 0:57:14We were looking at about £128,000 to £130,000,
0:57:14 > 0:57:16so, you know, we're nearly there,
0:57:16 > 0:57:19so we've got to be happy with that.
0:57:19 > 0:57:23After 11 weeks of solid work, the lads are looking forward to
0:57:23 > 0:57:26getting their social life back on track.
0:57:26 > 0:57:30Once they've caught up with all the news from their mates,
0:57:30 > 0:57:32what have they got planned?
0:57:32 > 0:57:34I definitely think we'll work again together.
0:57:34 > 0:57:37We're both ambitious and we both want to make money,
0:57:37 > 0:57:40just like everybody else does. We work well together
0:57:40 > 0:57:44so I'm sure we'll link up and sort another project out,
0:57:44 > 0:57:46whether it be property or something else.
0:57:46 > 0:57:49And the latest news is that John has scored with this house.
0:57:49 > 0:57:53It's now been sold for £130,000.
0:57:55 > 0:57:57Well, that's it for today.
0:57:57 > 0:58:00We hope you've enjoyed the trials and tribulations.
0:58:00 > 0:58:04Make sure you join us next time for more Homes Under The Hammer.
0:58:04 > 0:58:06- Goodbye.- Goodbye.
0:58:22 > 0:58:25Subtitles by Red Bee Media Ltd